Robert W. Baird Cuts Community Healthcare Trust (NYSE:CHCT) Price Target to $25.00

Community Healthcare Trust (NYSE:CHCT) had its target price decreased by Robert W. Baird from $29.00 to $25.00 in a report published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the real estate investment trust’s stock.

CHCT has been the topic of several other reports. Truist Financial reduced their price objective on Community Healthcare Trust from $35.00 to $30.00 and set a buy rating on the stock in a research note on Monday, June 17th. Evercore ISI reduced their price objective on Community Healthcare Trust from $29.00 to $27.00 and set an in-line rating on the stock in a research note on Tuesday, July 16th. Finally, Piper Sandler reaffirmed a neutral rating and issued a $26.00 price objective (down from $36.00) on shares of Community Healthcare Trust in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $26.50.

Community Healthcare Trust Trading Down 2.0 %

Shares of NYSE:CHCT opened at $20.05 on Wednesday. The stock’s 50-day moving average price is $23.88 and its two-hundred day moving average price is $25.15. Community Healthcare Trust has a 12-month low of $19.92 and a 12-month high of $36.71. The firm has a market cap of $562.46 million, a price-to-earnings ratio of 31.32, a PEG ratio of 1.32 and a beta of 0.68.

Community Healthcare Trust (NYSE:CHCT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.92). The firm had revenue of $27.52 million during the quarter, compared to analyst estimates of $30.02 million. Community Healthcare Trust had a net margin of 1.13% and a return on equity of 0.25%. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, research analysts forecast that Community Healthcare Trust will post 2.06 earnings per share for the current fiscal year.

Community Healthcare Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, August 9th. This is a positive change from Community Healthcare Trust’s previous quarterly dividend of $0.42. This represents a $1.85 annualized dividend and a yield of 9.23%. Community Healthcare Trust’s payout ratio is 287.50%.

Institutional Investors Weigh In On Community Healthcare Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new stake in Community Healthcare Trust during the 1st quarter worth approximately $34,000. Quadrant Capital Group LLC increased its holdings in Community Healthcare Trust by 264.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,824 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 1,323 shares during the last quarter. Van ECK Associates Corp increased its holdings in Community Healthcare Trust by 25.1% during the 4th quarter. Van ECK Associates Corp now owns 3,740 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 751 shares during the last quarter. SG Americas Securities LLC increased its holdings in Community Healthcare Trust by 65.7% during the 2nd quarter. SG Americas Securities LLC now owns 9,152 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,630 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Community Healthcare Trust by 67.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,062 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 3,260 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Community Healthcare Trust Company Profile

Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of December 31, 2023, the Company had investments of approximately $1.1 billion in 193 real estate properties (including a portion of one property accounted for as a sales-type lease and two properties classified as held for sale).